Barclays Has Lowered Expectations for Match Group (NASDAQ:MTCH) Stock Price

Match Group (NASDAQ:MTCH) had its price objective reduced by equities research analysts at Barclays from $53.00 to $52.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. Barclays‘s price target would suggest a potential upside of 54.85% from the company’s previous close.

Several other research analysts have also recently issued reports on MTCH. Truist Financial dropped their target price on Match Group from $35.00 to $34.00 and set a “hold” rating on the stock in a research report on Thursday, December 12th. Susquehanna dropped their price objective on shares of Match Group from $45.00 to $40.00 and set a “positive” rating on the stock in a report on Friday, November 8th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $33.00 price target (down previously from $40.00) on shares of Match Group in a research note on Wednesday, December 18th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $32.00 target price (down from $40.00) on shares of Match Group in a report on Tuesday, December 17th. Finally, Stifel Nicolaus cut their price target on Match Group from $39.00 to $36.00 and set a “hold” rating for the company in a report on Thursday, December 12th. Fourteen research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $37.68.

Match Group Stock Down 7.9 %

Shares of MTCH stock opened at $33.58 on Thursday. The firm has a market capitalization of $8.43 billion, a PE ratio of 14.99, a P/E/G ratio of 1.10 and a beta of 1.45. The company has a 50 day moving average price of $32.93 and a 200-day moving average price of $34.67. Match Group has a 52 week low of $27.66 and a 52 week high of $38.84.

Match Group (NASDAQ:MTCH) last posted its earnings results on Tuesday, February 4th. The technology company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.22). Match Group had a negative return on equity of 721.15% and a net margin of 17.86%. Analysts anticipate that Match Group will post 2.37 earnings per share for the current year.

Match Group announced that its board has authorized a share repurchase program on Wednesday, December 11th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the technology company to repurchase up to 19% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In related news, Director Stephen Bailey sold 801 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $31.61, for a total transaction of $25,319.61. Following the sale, the director now owns 12,398 shares in the company, valued at approximately $391,900.78. This represents a 6.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.77% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MTCH. Sanctuary Advisors LLC bought a new stake in shares of Match Group in the 2nd quarter worth about $731,000. Handelsbanken Fonder AB raised its position in Match Group by 19.1% in the 3rd quarter. Handelsbanken Fonder AB now owns 63,100 shares of the technology company’s stock worth $2,388,000 after purchasing an additional 10,100 shares during the period. Czech National Bank lifted its stake in Match Group by 3.8% in the third quarter. Czech National Bank now owns 52,535 shares of the technology company’s stock worth $1,988,000 after purchasing an additional 1,909 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Match Group by 114.4% during the third quarter. GAMMA Investing LLC now owns 5,391 shares of the technology company’s stock valued at $204,000 after buying an additional 2,877 shares during the period. Finally, Fulton Bank N.A. grew its stake in shares of Match Group by 3.1% during the third quarter. Fulton Bank N.A. now owns 10,006 shares of the technology company’s stock valued at $379,000 after buying an additional 299 shares during the last quarter. Institutional investors own 94.05% of the company’s stock.

Match Group Company Profile

Match Group, Inc engages in the provision of dating products. Its portfolio of brands includes Tinder, Hinge, Match, Meetic, OkCupid, Pairs, Plenty Of Fish, Azar, BLK, and Hakuna, as well as a various other brands, each built to increase users' likelihood of connecting with others. Its services are available in over 40 languages to users worldwide.